\begin{tabular}{l*{5}{c}} \toprule
                    &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}\\
\midrule
\textbf{Panel A:} Brazil&                      &                      &                      &                      \\
\addlinespace
Conventional        &                -0.032&                -0.016&                -0.041&                -0.049\\
                    &       [-0.053,-0.011]&        [-0.033,0.002]&       [-0.068,-0.014]&       [-0.073,-0.025]\\
\addlinespace
Robust              &                -0.046&                -0.047&                -0.077&                -0.050\\
                    &       [-0.078,-0.013]&       [-0.071,-0.023]&       [-0.120,-0.034]&       [-0.083,-0.017]\\
\midrule
\textit{N}          &                 31906&                 94365&                 19563&                 56129\\
Bandwidth           &                  1.86&                  5.58&                  1.16&                  3.28\\


\midrule
\textbf{Panel B:} Colombia&                      &                      &                      &                      \\
\addlinespace
Conventional        &                 0.057&                 0.064&                 0.056&                 0.046\\
                    &         [0.037,0.077]&         [0.045,0.084]&         [0.031,0.081]&         [0.021,0.070]\\
\addlinespace
Robust              &                 0.050&                 0.044&                 0.036&                 0.046\\
                    &         [0.018,0.082]&         [0.017,0.071]&        [-0.003,0.075]&         [0.012,0.080]\\
\midrule
\textit{N}          &                 26054&                 58937&                 17752&                 40393\\
Bandwidth           &                  3.49&                  8.66&                  2.37&                  5.58\\


\midrule
\textbf{Panel C:} Denmark&                      &                      &                      &                      \\
\addlinespace
Conventional        &                 0.267&                 0.208&                 0.249&                 0.194\\
                    &         [0.192,0.341]&         [0.115,0.301]&         [0.166,0.332]&         [0.085,0.303]\\
\addlinespace
Robust              &                 0.179&                 0.149&                 0.157&                 0.134\\
                    &         [0.069,0.289]&         [0.022,0.275]&         [0.033,0.281]&        [-0.004,0.271]\\
\midrule
\textit{N}          &                  1249&                  1375&                  1149&                  1280\\
Bandwidth           &                  5.28&                  7.64&                  4.07&                  5.68\\


\midrule
\textbf{Panel D:} Finland&                      &                      &                      &                      \\
\addlinespace
Conventional        &                 0.065&                 0.104&                 0.055&                 0.065\\
                    &         [0.042,0.087]&         [0.083,0.125]&         [0.026,0.084]&         [0.042,0.088]\\
\addlinespace
Robust              &                 0.024&                 0.042&                -0.019&                 0.023\\
                    &        [-0.016,0.064]&         [0.017,0.067]&        [-0.070,0.031]&        [-0.008,0.054]\\
\midrule
\textit{N}          &                 28636&                 97707&                 19070&                 76629\\
Bandwidth           &                  0.91&                  3.31&                  0.65&                  2.24\\
Bandwidth selector  &                   MSE&                   MSE&                   CER&                   CER\\
Polynomial          &                Linear&             Quadratic&                Linear&             Quadratic\\
\bottomrule \end{tabular}
